India’s total Pig iron exports in Apr’14-Oct’14 summed up to about 3.12 lakh tonnes -SteelMint Report.
According to custom data of FY15 (Apr’14-Oct’14), SteelMint analyzed India shipped about 3.12 lakh tonnes of Pig iron in 7 months, witnessing a fall of about 44% Y-o-Y. In FY14, the country had shipped about 9.9 lakh tonnes of Pig iron, but witnessing the current domestic as well as global steel scenario, it seems difficult to breach previous year’s export records.
In fact, this would be surprising to know that no export of Pig iron has taken place in the month of October. Global Pig iron demand is so dull that export tenders of one of the largest Pig iron manufacturer based in Odisha were postponed/re-issued for two consecutive months as trading companies are not interested to participate in the technical bid event.
As per SteelMint’s count, India has shipped 20 vessels of Pig iron in last 7 months. Out of the total shipment, majority of Pig iron has been exported to Thailand, which contributes around 43% of total exports.
Vessel Updates
A vessel named Seyio Harmony sailed on 08 Nov, 2014 from Vizag port, with 30,000 MT of Pig iron. The deal was settled in the last week of September between one of the largest Pig iron manufacturer based in Vizag and a Korean Company.
Upcoming Tender
NINL’s Pig iron export tender is scheduled on 12 Nov, 2014 (today), which was postponed from 28 Oct, 2014 amid poor market sentiments. Company is offering 40,000 MT Basic grade Pig iron to the overseas buyers.
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